TPB - Legit?

The Pirate Bay has been purchased and is perhaps looking to go legit. Software company Global Gaming Factory X AB has shelled out approximately US$7.8 million for the site.

The acquisition appears to be the first step into turning The Pirate Bay into a legal site. The Stockholm-based piracy site is a peer-to-peer server which made video games, movies and music available for "sharing" among users. Swedish police previously raided the The Pirate Bay and those connected to the site, and the ensuing trial against the BitTorrent site's founder resulted in a guilty verdict.

According to Hans Pandeya, CEO of Sweden's Global Gaming Factory, "We would like to introduce models which entail that content providers and copyright owners get paid for content that is downloaded via the site."

Pandeya adds that while The Pirate Bay is one of the top 100 most visited sites on the entire internet, it needs to change. "In order to live on, The Pirate Bay requires a new business model, which satisfies the requirements and needs of all parties, content providers, broadband operators, end users, and the judiciary," says the GGF exec. "Content creators and providers need to control their content and get paid for it." What's more, Pandeya adds, file sharers need "faster downloads and better quality".

According to a statement from The Pirate Bay, "If the new owners will screw around with the site, nobody will keep using it. That's the biggest insurance one can have that the site will be run in the way that we all want to."